While the ADP jobs number is noise, it is no more noise than the BLS' NFP monthly print. And since the NFP jobs number has been targeting the 200K support level for all of 2013, with the 6 month average at precisely the taper-permissive 201K, it was natural that the Mark Zandi-supervised ADP would ultimately revise its data to substantiate the BLS message, which is simple: taper on. Sure enough, ADP beat expectations of 180K coming at 200K, while the previous number of 188K was revised to 198K.

Report highlights:

From the report:

“The U.S. private sector added a total of 200,000 jobs during the month of July, with businesses of all sizes contributing to the overall gain and small businesses generating the greatest share, just as they did in the previous month. Among industries tracked by the ADP National Employment Report, professional/business services showed the largest increase in July with the addition of 49,000 jobs, while construction added 22,000 jobs, a stronger gain than in June.”

– Carlos A. Rodriguez, president and chief executive officer of ADP

So much for the US manufacturing renaissance, with another 5,000 mfg jobs lost, the 3rd drop in the past 4 months.